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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and P10, Inc. (PX). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $81.0M, roughly 1.7× P10, Inc.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 11.7%, a 23.8% gap on every dollar of revenue. On growth, ADMA BIOLOGICS, INC. posted the faster year-over-year revenue change (18.4% vs -4.7%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $18.1M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 10.7%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
P10, Inc. is a global alternative investment management firm that offers a diversified portfolio of investment solutions spanning private equity, private credit, real assets and venture capital. It primarily caters to institutional clients including pension funds, endowments, foundations, and high-net-worth individuals across North America, Europe, and Asia Pacific.
ADMA vs PX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $81.0M |
| Net Profit | $49.4M | $9.5M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 31.9% |
| Net Margin | 35.5% | 11.7% |
| Revenue YoY | 18.4% | -4.7% |
| Net Profit YoY | -55.9% | 79.0% |
| EPS (diluted) | $0.20 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $139.2M | $81.0M | ||
| Q3 25 | $134.2M | $75.9M | ||
| Q2 25 | $122.0M | $72.7M | ||
| Q1 25 | $114.8M | $67.7M | ||
| Q4 24 | $117.5M | $85.0M | ||
| Q3 24 | $119.8M | $74.2M | ||
| Q2 24 | $107.2M | $71.1M | ||
| Q1 24 | $81.9M | $66.1M |
| Q4 25 | $49.4M | $9.5M | ||
| Q3 25 | $36.4M | $2.1M | ||
| Q2 25 | $34.2M | $3.4M | ||
| Q1 25 | $26.9M | $4.5M | ||
| Q4 24 | $111.9M | $5.3M | ||
| Q3 24 | $35.9M | $1.4M | ||
| Q2 24 | $32.1M | $7.0M | ||
| Q1 24 | $17.8M | $5.0M |
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — | ||
| Q1 24 | 47.8% | — |
| Q4 25 | 45.1% | 31.9% | ||
| Q3 25 | 38.0% | 14.1% | ||
| Q2 25 | 35.1% | 24.4% | ||
| Q1 25 | 30.4% | 16.6% | ||
| Q4 24 | 32.6% | 26.9% | ||
| Q3 24 | 33.1% | 11.9% | ||
| Q2 24 | 36.6% | 23.7% | ||
| Q1 24 | 26.7% | 18.3% |
| Q4 25 | 35.5% | 11.7% | ||
| Q3 25 | 27.1% | 2.8% | ||
| Q2 25 | 28.1% | 4.7% | ||
| Q1 25 | 23.4% | 6.7% | ||
| Q4 24 | 95.2% | 6.2% | ||
| Q3 24 | 30.0% | 1.9% | ||
| Q2 24 | 29.9% | 9.8% | ||
| Q1 24 | 21.7% | 7.6% |
| Q4 25 | $0.20 | $0.08 | ||
| Q3 25 | $0.15 | $0.02 | ||
| Q2 25 | $0.14 | $0.03 | ||
| Q1 25 | $0.11 | $0.04 | ||
| Q4 24 | $0.45 | $0.05 | ||
| Q3 24 | $0.15 | $0.01 | ||
| Q2 24 | $0.13 | $0.06 | ||
| Q1 24 | $0.08 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $28.2M |
| Total DebtLower is stronger | $72.1M | $373.2M |
| Stockholders' EquityBook value | $477.3M | $403.5M |
| Total Assets | $624.2M | $928.3M |
| Debt / EquityLower = less leverage | 0.15× | 0.93× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $28.2M | ||
| Q3 25 | $61.4M | $40.0M | ||
| Q2 25 | $90.3M | $33.4M | ||
| Q1 25 | $71.6M | $74.4M | ||
| Q4 24 | $103.1M | $67.5M | ||
| Q3 24 | $86.7M | $61.5M | ||
| Q2 24 | $88.2M | $31.2M | ||
| Q1 24 | $45.3M | $29.0M |
| Q4 25 | $72.1M | $373.2M | ||
| Q3 25 | $72.4M | $393.4M | ||
| Q2 25 | — | $373.0M | ||
| Q1 25 | — | $357.2M | ||
| Q4 24 | $72.3M | $319.8M | ||
| Q3 24 | — | $319.4M | ||
| Q2 24 | — | $300.6M | ||
| Q1 24 | — | $314.0M |
| Q4 25 | $477.3M | $403.5M | ||
| Q3 25 | $431.2M | $396.8M | ||
| Q2 25 | $398.3M | $388.9M | ||
| Q1 25 | $373.4M | $374.3M | ||
| Q4 24 | $349.0M | $386.9M | ||
| Q3 24 | $231.9M | $394.1M | ||
| Q2 24 | $188.3M | $396.9M | ||
| Q1 24 | $153.7M | $400.1M |
| Q4 25 | $624.2M | $928.3M | ||
| Q3 25 | $568.7M | $936.0M | ||
| Q2 25 | $558.4M | $932.2M | ||
| Q1 25 | $510.6M | $877.4M | ||
| Q4 24 | $488.7M | $869.3M | ||
| Q3 24 | $390.6M | $857.0M | ||
| Q2 24 | $376.4M | $823.2M | ||
| Q1 24 | $350.9M | $832.8M |
| Q4 25 | 0.15× | 0.93× | ||
| Q3 25 | 0.17× | 0.99× | ||
| Q2 25 | — | 0.96× | ||
| Q1 25 | — | 0.95× | ||
| Q4 24 | 0.21× | 0.83× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | 0.78× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $35.6M | $23.0M |
| Free Cash FlowOCF − Capex | $34.6M | $18.1M |
| FCF MarginFCF / Revenue | 24.8% | 22.3% |
| Capex IntensityCapex / Revenue | 0.8% | 6.0% |
| Cash ConversionOCF / Net Profit | 0.72× | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $14.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $23.0M | ||
| Q3 25 | $13.3M | $-8.6M | ||
| Q2 25 | $21.1M | $13.4M | ||
| Q1 25 | $-19.7M | $-4.7M | ||
| Q4 24 | $50.2M | $101.0M | ||
| Q3 24 | $25.0M | $27.5M | ||
| Q2 24 | $45.6M | $34.8M | ||
| Q1 24 | $-2.2M | $11.0M |
| Q4 25 | $34.6M | $18.1M | ||
| Q3 25 | $-1.1M | $-9.5M | ||
| Q2 25 | $18.7M | $11.6M | ||
| Q1 25 | $-24.4M | $-6.0M | ||
| Q4 24 | $47.5M | $96.6M | ||
| Q3 24 | $24.0M | $25.2M | ||
| Q2 24 | $43.6M | $33.9M | ||
| Q1 24 | $-4.6M | $10.7M |
| Q4 25 | 24.8% | 22.3% | ||
| Q3 25 | -0.8% | -12.6% | ||
| Q2 25 | 15.3% | 15.9% | ||
| Q1 25 | -21.2% | -8.9% | ||
| Q4 24 | 40.4% | 113.6% | ||
| Q3 24 | 20.0% | 34.0% | ||
| Q2 24 | 40.7% | 47.7% | ||
| Q1 24 | -5.6% | 16.2% |
| Q4 25 | 0.8% | 6.0% | ||
| Q3 25 | 10.7% | 1.2% | ||
| Q2 25 | 2.0% | 2.5% | ||
| Q1 25 | 4.1% | 1.9% | ||
| Q4 24 | 2.3% | 5.2% | ||
| Q3 24 | 0.9% | 3.0% | ||
| Q2 24 | 1.9% | 1.3% | ||
| Q1 24 | 2.9% | 0.4% |
| Q4 25 | 0.72× | 2.43× | ||
| Q3 25 | 0.36× | -4.01× | ||
| Q2 25 | 0.62× | 3.96× | ||
| Q1 25 | -0.73× | -1.05× | ||
| Q4 24 | 0.45× | 19.12× | ||
| Q3 24 | 0.70× | 19.54× | ||
| Q2 24 | 1.42× | 4.98× | ||
| Q1 24 | -0.12× | 2.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
PX
| Management Fees | $78.1M | 96% |
| Advisory Fees | $1.8M | 2% |
